[flv:http://www.newsprofiteer.com/092409-usexisthomes/092409-usexisthomes.mp4 480 360]
10:00am (NY Time) US Existing Home Sales Forecast 5.36M Previous 5.24M
ACTION: USD/JPY, USD/CHF BUY 5.76M SELL 4.90M
Existing Home Sales is expected at 5.36M, and our safe deviation is 400K, or 0.4M; if the number is lower, it would be bad for the USD and good for risk aversion; if the number is higher, then it would be good for USD and good for risk appetite.
Since Housing news is probably one of the most important indicator for economic recovery, this news event will surely cause some volatility in the market if our tradable figures were released. At one hand if we get a better than expected release, USD could suffer from risk appetite sentiment as signs of housing recovery translate into equity gains; on the other hand, a worse release may boost USD demand as investors seek safe-haven shelter in U.S. Treasury. It will be a typical battle between fundamental outlook and risk sentiment, and if I were a betting man, I would put my money on risk sentiment and concentrate on JPY crosses…
Definition:
“Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation’s currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it’s the month’s first demand-side housing indicator to be released.”
As usual, I’ll trade this release in real time and update the results back. Therefore, stay tuned.
Related posts:
- Forex Strategy For US Existing Home Sales 07/20/11
- Forex News Trading US Existing Home Sales 06/21/11
- Forex Analysis For US Existing Home Sales 09/21/11
- Forex Trading News US Existing Home Sales 08/18/11
- US New Home Sales m/m 11/25/09
- Forex News Trading US New Home Sales 02/24/11
- Forex News Trading US New Home Sales m/m 04/25/11
- Forex News Trading US New Home Sales m/m 03/23/11
- US New Home Sales Forex Trading Plan 10/27/10
- Forex News Trading US New Home Sales 01/26/11
{ 2 comments… read them below or add one }
when’ll this live trade record posting up?
on Friday 25th…